ProCredit Bank received a credit line from the European Bank for Reconstruction and Development (EBRD)

ProCredit Bank received a credit line from the European Bank for Reconstruction and Development (EBRD)

Wednesday, 23 June 2010

ProCredit Bank received $10 million credit line for a maturity of 5 years from the European Bank for Reconstruction and Development.

ProCredit Bank will use the received funds for financing the small and medium sized enterprises. Also, the credit line will diversify the existence funding base of ProCredit Bank, which offers a wide range of banking services and products affordable for small and medium entrepreneurs. The responsible attitude to loan risks made ProCredit Bank accept half of the credit line in lei and half in US dollars.

Dr. Ilinca Rosetti, General Manager of ProCredit Bank stated: “We are glad that European Bank for Reconstruction and Development has granted us this credit line. It contributes to the continuous fulfilment of the ProCredit’s strategic mission in Moldova: supporting local entrepreneurs and the overall development of the Moldovan economy. In the current environment entrepreneurs need access to longer term loans even more than before, in order to develop further their businesses, helping the country to recover after the financial crisis. In the last ten years ProCredit institutions in Moldova, the financial company and the bank, provided loans to many thousands of Moldovan entrepreneurs becoming a stable and reliable financial partner.”